Home connected to Petters Ponzi scheme seized

Federal officials will seize a Minnesota home purchased with proceeds from a Ponzi scheme.

Associated Press

A Minnesota home purchased with proceeds from a Ponzi scheme will be seized by federal officials.

A judge has authorized the U.S. Attorney's Office to seize the home in Minnetrista linked to Tom Petters. He's serving 50 years in prison for a $3.5 billion fraud scheme. The home was most recently occupied by the ex-husband of a former Petters' associate, Deanna Coleman. She was a key witness in Petters' trial and served less than a year in prison for fraud.

The St. Paul Pioneer Press (http://bit.ly/PGNnku ) says Coleman's ex-husband kept the house after their divorce. He died in June at age 55. The house has an estimated value of about $580,000.

Never miss a story

Choose the plan that's right for you.
Digital access or digital and print delivery.

Original content available for non-commercial use under a Creative Commons license, except where noted.
Crookston Times - Crookston, MN ~ 124 South Broadway, Crookston, MN 56716 ~ Privacy Policy ~ Terms Of Service